<div class=”custom-important-text”>It might be surprising to some people to find that Dallas, Texas has a diverse population that includes more than cowboys and oil barons.</div> According to U.S. census data as of 2015 the population in Dallas is estimated at 1,197,816. While 29 percent of the current population is Caucasian, Hispanics make up the majority with 42 percent. 24 percent of the city’s population is comprised of African Americans, and Asians make up another 2 percent.

The population is almost evenly divided between men and women, and the average age is around 31. Statistics also show that there are an estimated 458,057 residents currently living in family style homes. 192,519 residents live by themselves or with non-relatives. On average Dallas residents only hold down one job, which does help to explain the city’s relatively low credit score.

According to Experian the city had a credit score of 648 in 2014 compared to the national average at 665. While this does indicate that Dallas residents are taking on more debt, this is not necessarily a “bad thing” for the city. It also shows that the economy is starting to rebound and that residents are ready to start looking for auto loans. The poor credit score does negatively affect residents’ ability to be approved for a car loan from a traditional lending institution, but many are getting the help they need from the numerous Buy Here Pay Here lots that are springing up around the metro area.

http://www.dallas-ecodev.org/resources/demographics/

In 2015 the average household income was reported at $42,285 making the cost of living in Dallas two percent lower than the national average. While this might seem like good news for residents and individuals considering a move to the city, it should be noted that it is also more expensive to live in Dallas than any other city in the state.

The state also has a sales tax that is 23 percent higher than anywhere else in the nation, and this should be factored into the average living costs. On the other hand, there is not an income tax in Texas and this does help to balance out the abnormally high sales tax.

Housing is also 22 percent lower in Dallas than in other major U.S. cities, and this makes it possible for more residents to consider applying for a car loan. It is important to remember that credit scores in Dallas are below the national average and this can make it difficult for some residents to receive approval for a low interest auto loan. This is another reason Buy Here Pay Here lots can be found in almost any neighborhood. Even though these car loans typically come with higher interest rates it is one way struggling residents can get the transportation they need, and start rebuilding their credit.

http://www.areavibes.com/dallas-tx/cost-of-living/

In 2008 the number of personal bankruptcy fillings started to rise as the collapse of the housing market and subsequent stock market crash began to be felt by everyone. The loss of jobs and rising fuel costs resulted in a large number of residents relying on the limited protection offered by Chapter 7 and Chapter 13. The number of fillings continued to increase over the next four years, reaching almost record highs in 2012.

Over the past few years the financial future of the city and its residents has begun to change, and now personal bankruptcy filings are back to relatively low numbers. While filing for Chapter 7 or Chapter 13 at the time may have been the best option available, it is now having a negative effect on residents’ credit reports. According to Experian a bankruptcy can stay on someone’s credit history for up to seven years, and it is also one of the main reasons people are turned down for an auto loan.

Thankfully there are several Buy Here Pay Here lots located throughout the metro Dallas area, and some can even be found downtown, that are willing to provide residents with the financing they need to purchase a dependable vehicle. While this loans will come at a higher interest rate it is often the only option left to residents that have filed for Chapter 7 or Chapter 13 in the past seven years.

Reaching 9.1 percent in July of 2009 the unemployment rate in Dallas is now down to 4 percent, as of November 2015. While this is still higher than comparable cities like Houston and Austin, the significantly lower unemployment rate indicates that Dallas is recovering and new jobs are coming into the area.

After thousands of residents lost their jobs during the 2008 recession the occasional high cost of living forced many people to make tough financial decisions. This included missing and late mortgage and other loan payments that occasionally ended up in foreclosures and repossessions. All of this can have a detrimental effect on anyone’s credit and make it difficult for them to be approved for a loan from a traditional lending institution.

especially if they live in the suburbs north and south of downtown. Even though monthly utilities still average $142.89 and rent outside of the city is around $837.52 for a one bedroom apartment the influx of new jobs is making it possible for residents to afford the high interest rates that come with a car loan from a Buy Here Pay Here lot.

By 2009 there were an estimated 1.9 million vehicles repossessed annually in the United States, up from 1.67 million in 2008. A large percentage of these repossessions occurred in Texas cities, which includes the Dallas metro area.

Since 2010 the rate of vehicle repossessions across the country has been steadily declining and was reported at 1.5 million by end of the year. While the number of cars being repossessed is dropping, many Dallas residents are still facing the possibility of losing their vehicle due to high interest payments on title loans.

The city of Dallas, like the rest of the state, has only recently passed laws restricting title loan companies from charging the ridiculously high interest rates that made it all but impossible for borrowers to pay off their debt. This is helping some people hold on to their vehicles, but missed and late loan payments are still having a negative effect on their credit. With the city’s economy strengthening there is hope that fewer residents will have to take advantage of the quick cash offered at the title loan agencies which is good news for their credit history and FICO scores.

There is a very good reason that people automatically think of oil when the city of Dallas is brought up, and until the 1980’s the two were tied closely together. The city’s economy was based almost solely on the oil industry, until rapidly falling oil prices sent it into a tailspin. Thousands of residents lost their jobs, homes and vehicles, and several large state banks also collapsed during this time.

The city did recover and in the past thirty plus years it has learned to diversify its economy in an effort to prevent such devastating losses from happening again. All of this was working well for Dallas and its rapidly expanding metro area, until the nationwide recession in 2008. The collapse of the housing industry, along with major lending institutions being forced to ask for federal help sent the city’s economy plunging downwards for the second time in less than thirty years.

Expansion to the north and south of the skyline came to an abrupt halt, leaving many neighborhoods unfinished which resulted in plummeting property values. The health care industry was also affected during the recent financial crisis, along with the energy sector. This left thousands without jobs and the city with an unemployment rate over 9 percent in 2009. In order to make ends meet many residents were forced to take out high interest title loans which only provided them with a few weeks of respite before they had to worry about their vehicle being repossessed.

Now that employment opportunities are coming back into the area residents are finding it easier to make ends meet, and a large number of those affected during the financial crisis in 2008 are now searching for an affordable vehicle. Buy Here Pay Here lots are making it possible for the majority of these residents to get the financing they need to purchase a dependable vehicle, even with the recent hits to their credit scores.

In 2012 a summary conducted by various CEOs voted Texas one of the best places to conduct business, and this includes the CBD in Dallas. The central business district is located in the heart of downtown and it is responsible for employing an estimated 135,000 residents, according to 2012 statistics.

New businesses are still moving into the downtown area, along with residents. It is now estimated that 38,000 people live in the downtown area, with another 7,800 residing in the central business district. Adding to the appeal of the CBD is its close proximity to the city’s cultural centers, along with the hundreds of restaurants and retail shops that call the area home.

It is not just the city’s downtown that is seeing a surge in economic growth, but also the business districts in the metro area. University Park is adding new jobs, along with the area around McKinney Collin County. In 2015 these two Dallas suburbs were also named some of the best places to live. West Plano is seeing a surge in commercial development which is bringing in retail business, and the suburb is also home to Toyota’s new headquarters. The McLendon-Chisholm municipality is also growing, and plans for a larger business and downtown area in the suburb are currently underway.

While this ensures that there are plenty of options when it comes to deciding on where you want to live, and that there is never a shortage of fun things to do, it also makes it extremely difficult to get around without a dependable automobile.

The city has a public transit score of 39, which means a vehicle is necessary if you want to run errands and get to work on time. There is a light rail system that services the CBD, downtown and the nearby neighborhood of Oak Lawn, along with several public buses. The DART rail system also provides service to the Dallas-Fort Worth International airport, which does make travel easier if you live in one of the neighborhoods where the train has a designated station.

The same is also true for residents that live in some of the larger incorporated cities in Dallas. Plano does offer limited bus service, along with Irving and Arlington. Most residents do quickly discover if they do not live and work in the same area a vehicle will be needed if they want to get around. The lack of public transportation also goes a long way towards explaining why there are so many Buy Here Pay Here lots in business through the greater Dallas metro area.

https://www.walkscore.com/TX/Dallas

Overall the city has a relatively low walkability score of 45 and this reflects its lack of public transportation outside of the immediate downtown area.

Whether you live in the Framers Ranch subdivision, Garland or further out towards Arlington you will find plenty of trails to walk and bike on. The CBD is also designed to encourage walking, along with the art and museum districts located downtown. Residents in Oak Lawn can not only enjoy the numerous sidewalks and trails in the historic neighborhood, they can also easily walk to downtown. It should be noted that this is also one of the fewer areas where it is occasionally easier to walk than it is to drive.

The majority of Dallas residents will find that a vehicle is a necessity, especially during the hot summer months. With several options that include Buy Here Pay Here lots purchasing a vehicle in the city is also relatively affordable even if you are one of the thousands with poor or bad credit.

Dallas ISD has an overall rating of 4 with 393 primary and secondary schools in the district. Like many other large cities the schools located in and around downtown typically have the lowest ratings, though this can vary according to the neighborhood. The wealthier neighborhood of Highland Park in the University District does have an independent school system that is rated a 10. Much of this is due to its close proximity to the University, along with the higher taxes residents can afford to pay to fund the small city’s schools.

Other school districts in the area include Uplift Education with a ranking of 9, while Cityscape has the lowest rating in the Dallas metro region with a score of only 1. Once again this highlights the discrepancies in annual income throughout the city, which is adversely affecting the quality of education for some children.

Even though the city and metro area are experiencing a strong economic and job growth some residents are still in need of additional assistance. Thankfully Dallas has several programs in place that can help residents with everything from rent and utilities to food, clothing and even credit counseling and debt assistance. Learning how to manage their money is important for residents struggling financially. Not only will it help them get and stay out of debt, it can also help them improve their credit so they can qualify for an affordable auto loan.

Some of the phone numbers that residents might want to take advantage of include,

Dallas County Welfare: (214) 819-1800

Nutrition Programs: (214) 689-0000

Texas Health and Human Services (972) 337-6100

https://www.connecttocaredallas.org/public/search.aspx?searchType=1&category1=Public%20Assistance%20Programs&category2=

Along with the recent economic crisis the most common reason that Dallas residents found themselves in financial trouble was due to large hospital and other medical bills. An inability to pay caused many residents to take a large hit to their credit scores that made them ineligible for a low interest auto loan. Rising prescription costs are also contributing to the problem, and some residents find that they have to choose between paying a bill on time or their medication. This is why the state and federal government have ensured that there are several programs in place to help those in need.

Some of the phone numbers to these programs include,

Visiting Nurse Association of Texas: (214) 689-0000

Texas Department of Health Services: (817) 264-4500

As the largest landlocked city in the country there is never a shortage of fun activities, events and festivals. The downtown area is home to several museums and galleries that are constantly changing exhibits, and there is also a professional sporting team to root for no matter the season.

The Dallas Zoo has something for everyone, including a relatively affordable entrance fee, and a visit to the Arboretum is always recommended. Along with beautifully landscaped areas, the Arboretum is also a great place to relax and enjoy a glass of wine. You also don’t want to miss the Aquarium that even houses monkeys and exotic birds.

Nature lovers will also enjoy spending a day on the historic Katy Trail, while those craving excitement won’t be disappointed after a visit to Six Flags Amusement Park. Several cultural events and festivals are held in the city throughout the year, along with visiting exhibitions and concert tours.

Dallas and the greater metro area has seen its share of financial hardships, but each time it recovers stronger than ever. Jobs are opening up throughout the region, and residents are finding that it is easier to make ends meet. This doesn’t mean that there aren’t still hurdles for residents and the city, and this includes their ability to repay loans without allowing their quality of living to suffer. This means that when it is time to start thinking about applying for an auto loan residents take a minute to ask themselves a few questions. The most important questions being if they can afford an additional bill and if their credit is good enough for them to be approved.

If they can afford an additional payment but can’t get approved through a traditional lending institution residents in Dallas with poor credit can still get the vehicle they need simply by taking advantage of the loan opportunities offered at the Buy Here Pay Here lots.